Shareholders of a failed institution recover their investment only after all depositors and other creditors receive payment in full on their claims, including interest, in accordance with the laws governing liquidation.
Frequently Asked Questions
- If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?
- Must a claim be filed in person?
- What happens to those depositors whose accounts are subject to further examination?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
Did You Know?
- Misconception: Establishing more than one joint account in the same institution with the same names increases insurance coverage. - Fact: All joint accounts with the same names, notwithstanding alterations to the sequence of names, are added together and insured up to a maximum of TT$200,000.
